Posted by Hey Yo,
This question has been eating at me for over a year. I got laid off in February 2008 and ended up with a 403(b) with approximately $2500 in it. The money is sitting in some account managed by people called ————. It’s just sitting there and when I get my statements I see that the amount isn’t going up or down, which leads me to believe that it isn’t invested anywhere. Though, my statements also say that the plan is “active.” Basically, I have $2500 that I don’t know what to do with. So… what do I do with it?
-Anon Ymus
Hey Anon,
It sounds like you never chose any underlying investments in the 403(b). Think of your 403(b) as a basket. From what it sounds like, your money is in the basket, but it’s not doing anything. That basket can hold annuities (fixed and variable) and mutual funds–but you have to direct which you invest in.
With the fees associated with annuities and the amount of money you have you could be better off in a mutual fund with a low expense ratio, but you’d have to compare the specific investments to be sure.
Your plan administrator should be able to send you some mutual fund information (you can also compare mutual fund expense ratios and historical performance on Morningstar). I would choose a no load fund so there is no charge to buy (that may be the default option in a 403(b) but I’m not sure) and look for expense ratios of less than 1.50% (it can be difficult to find a lower expense ratio in a no load, but not impossible). KEEP IN MIND–when you make the investment within the 403(b) you could be facing possible CDSC charges if you want to sell and take the cash (short term selling fees) and you will be exposed to market risk.
Later,
Yo
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Hey Yo,
This question has been eating at me for over a year. I got laid off in February 2008 and ended up with a 403(b) with approximately $2500 in it…..
В этом что-то есть. Понятно, благодарю за помощь в этом вопросе….
Hey Yo,
This question has been eating at me for over a year. I got laid off in February 2008 and ended up with a 403(b) with approximately $2500 in it…..
Надо поглядеть!!!…
Hey Yo,
This question has been eating at me for over a year. I got laid off in February 2008 and ended up with a 403(b) with approximately $2500 in it…..
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